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    New Duplex with Two-Car Garages Title is generated by Realmo AI

    135 Terrace Drive, Colorado Springs, CO 80906

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    Newly built duplex offers flexible layouts with finished basements and private outdoor space for two households.

    Type:Multifamily
    Property size:
    5,188 SF
    Price / SF:
    $269/SF
    Added:
    May 28, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 2:28 am

    Property Features for 135 Terrace Drive

    General Information

    Standard status
    Active
    Size
    5,188 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Lauren Collier
    Lauren Collier

    Listing agent Lauren Collier License #CO 100035892

    Listing office Live Dream Colorado LLC

    Listing date May 28, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Live Dream Colorado LLC

    HighLights

    • Newly built 2024 duplex with each unit featuring 2,594 SF of finished living space, including a fully finished basement
    • 9‑ft ceilings on the main and upper levels, with bright open‑concept great rooms, luxury vinyl flooring, and gas fireplaces
    • Unit 135: double primary suites, basement bedroom, and 4 bathrooms
    • Unit 125: 4 bedrooms, 4 bathrooms, and a convenient main‑level office
    • Both units include fully finished and insulated two‑car garages and dining areas with walk‑out access to private back yards
    • No HOA; Creekwalk neighborhood with walking access to newer restaurants and shopping and quick access to I‑25, Fort Carson, and downtown Colorado Springs

    Overview

    This newly built duplex features modern design with thoughtful layouts, including 9-foot ceilings on the main and upper levels and fully finished, insulated two-car garages for each unit. Each side provides open-concept great rooms with luxury vinyl flooring, stylish kitchens with large islands, and cozy gas fireplaces. Both units include dining rooms that walk out to private back yards, supporting convenient indoor-outdoor living. The primary suites are designed as private retreats with walk-in closets and attached baths with double vanities. Basements are fully finished and include a bedroom, a full bathroom, and a rec room, with pre-plumbing for a wet bar.

    The property is located at 135 Terrace Drive in the Creekwalk neighborhood of Colorado Springs, with easy walking distance to newer restaurants and shopping. It also provides quick access to I-25, Fort Carson, and downtown Colorado Springs.

    Unit 135 includes double primary suites, a basement bedroom, and four bathrooms, creating room for multi-generational or shared-tenant setups. Unit 125 features four bedrooms, four bathrooms, and a convenient main-level office well-suited for remote work or flexible living. With no HOA, ownership offers added lifestyle flexibility for long-term occupants or investors.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.824769
    Latitude
    38.804655

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    FAQs

    What type of property is this?
    Duplex - Newly built duplex offers flexible layouts with finished basements and private outdoor space for two households.
    Where is this duplex located?
    The property is located at 135 Terrace Drive Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $1,399,900.
    What are key features of this property?
    This property features: Newly built 2024 duplex with each unit featuring 2,594 SF of finished living space, including a fully finished basement; 9‑ft ceilings on the main and upper levels, with bright open‑concept great rooms, luxury vinyl flooring, and gas fireplaces; Unit 135: double primary suites, basement bedroom, and 4 bathrooms
    (719) 272-1765 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Lauren Collier
    Lauren Collier
    Real Estate License ID: CO 100035892
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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